HIH Invest acquires first assets for healthcare fund
HIH Invest Real Estate has acquired a health center located in Michendorf, Germany, from the GP Günter Papenburg conglomerate for an undisclosed amount.
Michendorf is in the rural district of Potsdam-Mittelmark southwest of Berlin.
The investment consists of two separate four-story buildings directly next to the entrance to the new quarter. One will be used as a health center and the other as an office building. Their combined gross lettable area approximates 3,597 square meters (38,717 square feet).
The health center is expected to be completed by the end of 2023. The first units of the health center have already been leased to a local home care service. The other units will be occupied by various doctors’ offices or therapy facilities. The already completed administrative building was rented by EMB Energy Mark Brandenburg, a local utility company that has been using it as its principal place of business since January 2021.
The property development in